Overlay Graphic
we believe it’s possible
Invest Blue is passionate about helping people reach their goals and dreams by providing quality, tailored financial advice.

What’s your money type?

For some couples, it’s a case of opposites attract – those very characteristics that set you apart are what makes the partnership work.

For example, an energetic extrovert can be well balanced by someone quieter and calmer in temperament. So, what happens when you’re in a relationship with someone who has a completely different view when it comes to money?

First, let’s look at some money ‘types’;

  1. The SAVER
  2. The SPENDER
  4. The AVOIDER
  5. The GAMBLER
  7. The GUARDED
  8. The FLYER

Not surprisingly, people often fall into more than one category but generally, one behavioural type will tend to be dominant.

The Saver

Savers are all about getting the best value for every dollar spent. They’ll happily shop around, comparing prices to find the best deal. They don’t part with their money easily and are more likely to reach for the calculator at a group dinner to determine their appropriate contribution.

Pros – They tend to be resourceful and practical

Cons – They may be perceived by others as being ‘cheap’

The Spender

Unlike Savers, those in this category have no problem parting with their money. They like spending money on experiences and items that bring them joy. They’re also more likely to live beyond their means. They can be very spontaneous decision makers when it comes to spending.

Pros – They are generous with their friends and more likely to willingly support charitable causes

Cons – There’s rarely money left for a rainy day

The Risk Averse

For those risk-averse personalities, money is all about security. People in this category prefer safe investments and will be thorough in their research prior to investing. Financial stability matters.

Pros – they are likely to be financially stable throughout their lives

Cons – A more conservative, risk-averse approach may hold people back from worthwhile opportunities to grow their money

The Avoider

The Avoider could be considered an extreme version of someone risk-averse. For Avoiders money is associated with fear and anxiety. Avoiders worry constantly about overdrafts or excessive credit card spending.

Pros – They’re unlikely to ever find themselves in debt

Cons – They may avoid spending money on even the most necessary things. They may also self-sabotage their financial success

The Gamblers

This self-explanatory category is for thrill seekers, where huge risks can potentially bring about huge rewards. Those that best identify with this type are instinct driven. They are unlikely to pay much attention to sound financial advice. Facts and figures won’t hold sway either.

Pros – They’re optimistic and put themselves in a position to win big

Cons – They’re genuinely willing to lose it all – a scary thought in a household should that person also be  the primary breadwinner

The Worshipper / The Status Symbol

Worshippers mistakenly believe that money is the answer to all their problems. Like Gamblers they are risk-takers. They may be overspenders or compulsive buyers. Worshippers tend to overwork too and often assume a higher income or financial windfall will make them happier.

The Status Symbol associates self-worth with net-worth. This type shares some traits with The Worshipper. They show competitive spending traits. The downside of aligning money with status is that it’s very unhealthy for your well-being.

Pros – They’ll surround themselves with beautiful (albeit material) things such as gorgeous homes and nice cars

Cons – Assuming money equates to happiness is likely to end in disappointment. And always trying to ‘keep up with the Jones’s’ must be exhausting!

The Guarded

The Guarded describes those who are very secretive about their money, even to the point of paranoia. Those who best identify in this category may be excessively frugal or prone to hoarding cash.

Pros – It’s hard to determine a plus side to such intense secrecy but at least there’s money available…unlike The Spender who might be living entirely on credit!

Cons – They’re not allowing their money to work for them. By sharing their secrets with someone knowledgeable (and trusted) they could be building their wealth

The Flyer

Flyers hardly think about money. For them, money is not linked to status or security. They may consider those who give money matters a lot of thought (i.e. the Savers or Risk-Averse) obsessive. Having a thriving bank balance or conversely, one with just double digits is neither here nor there. They feel liberated by this approach and happily choose not to be guided by the same practicalities as the rest of us.

Pros – They have a healthy self-worth not linked to financial worth

Cons – As per The Guarded, in paying little attention to their money, it’s not structured to grow for them or protect them in any way

As with personalities, our approaches to saving, spending, planning and investing are likely to differ greatly. So, can partners with opposing views on finances find the balance?
In households with different money types under the same roof, it comes back to communication and compromise. Sometimes, differing approaches can complement each other.  It’s important to respect your partner’s views and look at your finances from a fresh perspective. As a couple or family, regardless of your money ‘type’, the priority is to find common financial goals to work toward.

For more on love and money, see Love & Money – navigating finance and romance part one.


We credit the following articles as original source material from which this article was developed



What you need to know

This information is provided by Invest Blue Limited (ABN 91 100 874 744). The information contained in this article is of general nature only and does not take into account the objectives, financial situation or needs of any particular person. Therefore, before making any decision, you should consider the appropriateness of the advice with regards to those matters and seek personal financial, tax and/or legal advice prior to acting on this information. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relations to products and services provided to you.